the reason is money as toxic after 1971
people who work for money are getting
poorer because the way your wealth is
sucked out of you by them dead by the US
Treasury and by our government and our
school system there's a people that work
for money get poorer the people that
invest in stocks bonds mutual fund in
ETS
they're temporarily rich but most flash
income is at all if you're going to be
educated a person has to know those be
incredibly dead and that's why I mention
the demographics because the average
person is not smart enough to handle
that all money today is credit it
doesn't exist
credit is very simply the power to spend
that's all it is we have a credit card
there's no money in that thing they've
just given you the power to spend and
the moment you spend it you create debt
hey everyone this is stefan from
projectlifemastery.com the author of the
number one personal finance book of all
time known as Rich Dad Poor Dad a book
that changed my life I know many of you
guys know of that book and probably read
it today we're gonna dive a little bit
into Roberts story and also talk about
his newest book called fake fake money
fake teachers fake assets how lies are
keeping the poor and the middle class
poor so Robert thank you for taking the
time thank you
do you mind sharing with my audience a
little bit about your story and about
yourself and the the Rich Dad Poor Dad
story well talk to you honest wants to
know what's a fake story know it's real
story you know I had I grew up in Hawaii
fourth generation japanese-american my
poor dad was a head of education for the
state of Hawaii PhD Stanford University
cago Northwestern but I call them Isis a
PhD stood for poor helpless and
desperate because our schools teach us
nothing about money so when I was nine
years old I just raised my hand I asked
my teacher because I went to a rich rich
kids school I was a poor kid I went to a
rich kids school
and I wasn't no how come they were rich
and I was poor and the teacher said well
if you stay in school
it'll be rich I said don't be s me I
mean you know my father's a PhD he's
broke and she's gone oh no no you stay
in school
I said no don't lie to me so I kept
raising my hand and she finally said she
finally blurted it out you know she was
like church lady on Saturday Night Live
or something she goes the love of money
the root of all evil and this hit maybe
evil to you but I'd like to have some
you know so it's a lot of that attitude
and so I went home to see the old man
poor dad it's good man you know
six-foot-four for Japanese is fairly
tall good father great husband but you
know nothing about money so I kept ask
him was the one you gonna teach me about
money when's the school then teach us
about money then he blurted it out too
he says I can only teach what the
government lets me teach and money is
not one of those subjects and that was
kind of like my first wake up that
education was brainwashing I can say so
I never did well on so I'm gonna have a
college degree I went to a very good
school that all the stuff I don't
remember anything about money and I just
started studying with my rich dad when I
was nine and he taught his his son and
me my best friend about money playing
Monopoly and so we all know the formula
for great there's many formulas there's
a million waging go to heaven you know
there's so many ways you can get rich
today so many and but there's also more
ways and go to a financial hell also and
anyway he just taught me a plain
monopoly so today I own 7,000 rental
properties five hotels oil wells all I
do is play Monopoly so it's not that
hard to be a rich but you have to have
good teachers and as you and I know
there's a lot of fake teachers out there
so that's where I wrote the book fake is
because our school system fake we have
fake money the Fed prints as much as
they want and we have fake assets you
know stocks bonds Mitchell
funds ETS I don't touch that stuff but
the average person should but I don't
save money and I use debt to get rich
I also in fake I write about the
infinite return whereas if the higher
your financial IQ you don't need money
so if you need money you're not using
your brain somewhere something you know
because it doesn't take money to make
money and that's one of the biggest lies
they tell you so since 1973 I've not
been I I can make up I use debt
I use my own money I just borrow money
to get rich and this guy's like Dave
Ramsey a good friend of mine and he says
live debt-free well that's good advice
for his audience that's what's asking
who's your demographics you know are
they smart they're stupid they're rich
they're poor are they educated not
educated but so many people want to get
rich but they have horrible teachers and
then they work for fake money the US
dollars fake they print it print
trillions of it every month or day oh
and then you buy these fake asses I
don't touch that stuff but the average
person should so that's why demographics
and a person's desire to be rich is
probably more important than their
education yeah you know we talked about
debt you know oftentimes people in
society they look at debt is bad you
mind kind of sharing what your mindset
is around that you knows a good debt and
bad debt
well it's if you're going to be educated
a person has to know there's being
credit and debt and and that's why I
measure the demographics because the
average person's not smart enough to
handle that all money today is credit it
doesn't exist
credit is very simply the power to spend
that's all it is
so when you have a credit card there's
no money in that thing they've just
given you the power to spend and the
moment you spend it you create debt and
then a debt is this contractual
agreement that you'll pay it back now
the trouble is most people ain't paying
it back
the student loan crisis with which was
brought about by Obama
I'm not Republican or Democrat but the
student loans used to be with the big
banks today with their with the US
Treasury and the US Treasury started
taking in a student loan debt giving
them credit and now student loan debt is
bigger than the subprime crisis that
brought down the market in 2008 that's
financial education now I know I've seen
a video of yours we talked about you
know every I think historically every
ten years or so there's been a crash and
yeah and anticipating what's coming but
what could someone do to I guess educate
themselves prepare and take advantage of
a potential crash well what's wrong with
a crash that's well that's what people
don't understand crashes are really good
yeah you know crashes are basically like
Neiman Marcus having a sale right right
so in 2008 when the markets crashed they
also lowered the interest rates I
thought I'd died and went to heaven
that means I get my debt cheaper yeah so
when the markets crashed my partners and
I borrowed 300 million bucks and we
bought more property and so 10 years
later it's nowhere now 5 almost 600
million in debt which is past half a
billion right but we got very rich off
of debt but that takes financial
education that's why I created the cash
flow boardgame cash flows the only abort
game that encourages you to use debt if
you don't know how to use debt then
follow Dave Ramsey's rule low debt free
yeah or Suze Orman so the good debt is
the debt that makes you money that
you're in more than that okay you know
debt is power yeah money is money is
credit today yeah 1971 when Nixon took
us off the gold standard the US dollar
became credit or debt and the average
guy doesn't know that their money
doesn't exist it's only up here so what
are some of the key mindset differences
you found between the rich and the poor
well lesson was lesson number one in
Rich Dad Poor Dad which don't work for
money right the reason is money is toxic
after 1971 people who work for money
getting poorer
because the way your wealth is sucked
out of you by the Fed by the US Treasury
and by our government and our school
system is the people that work for money
get poorer the people that save money
get poor and the people that invest in
stocks bonds mutual funds and ETFs
they're temporarily rich but in a flash
it gonna lose at all because they don't
have an education so that's why I can
ask the demographics I generally speak
to different groups but primarily my
groups are very well educated
entrepreneurs yeah yeah and you know
we're here at an event called seller con
and you're actually you're talking about
selling the most important skill you
said for entrepreneurs you mind talking
a little bit about that well sales
equals income you know if you can't sell
you have no income so I don't have any
income because you can't sell it's that
simple so what I'm going to say to these
guys is my poor dad you know he was very
disappointed in me because I was a pilot
and he wanted me to get my MBA and then
fly for the airlines and I said I'm an
employee and then I want to become an
entrepreneur so my research says number
one skill of an entrepreneur you gotta
sell so the only job I've really had was
with Xerox and because Xerox had a sales
training program that's the only reason
so I became number one in sales for
Xerox and then I quit and started my
first business which was an Alan I'm
Velcro surfer wallet business and I sold
the hell out of that thing the trouble
is I sold more than I could produce
which got me in trouble so it's good
lessons you know so my poor dad was very
upset because so I you know you're a
Salesman I said what's wrong I'm being a
salesman's salesman so crooks
thus the academic teacher the elite
academic mentality and I said well and
that's where we're at war today with the
elites you know who are the real crooks
like the Clintons Obama's and those guys
then you got my buddy Trump who is hated
me he shouldn't say what he says but
that boy knows how to sell that's why
he's winning
although I hate it yeah yeah I'd love to
talk to you you know there's so many
different investment vehicles and you
know you love real estate you mind
talking about no I don't love real
estate so the mistake people make I love
debt in taxes okay if I have real estate
I can borrow as much money as I want and
the more I borrow the let I pay no taxes
rates so but it's not real estate you
know just debt in taxes because money
became debt or credit in 1971 and the
more debt I have the less tax I pay mmm
it's just uh it's as the law and so you
know people say you can't do that I said
no you can't do that but I can and
that's the difference so it's not that I
love real estate I just love debt and I
don't want to pay taxes legally Trump
doesn't pay taxes either that's why you
won't show his tax returns because the
American people go nuts so I loved it
you know ask you about your new book
what inspired you to write it well fake
us really the graduate school for Rich
Dad Poor Det that's why the market is
very small for fake a little bit more
sophisticated and rich and fake starts
in 1972 us flying us flying off of
Vietnam and Nixon took the dollar off
the gold standard so my copay I had to
say we go look for gold
we didn't know what gold what Americans
had never seen gold so we flew behind
enemy Alliance which proves Marines
aren't that bright and we went looking
went to a gold mine to buy gold and this
little Vietnamese woman you know I don't
think she went to Harvard or anything
but she wouldn't she wouldn't discount
the gold so let's say goal is 50 bucks
that day was 35 a few months earlier so
it was going to 50 and so I said I'll
give you 40 just get out of here you
know and I realized something she was
teaching me she was one of the best
teachers I ever had because she was
teaching me about money the same lessons
my rich dad would try to teach me that
money is fake gold is real so anyway I
didn't I you know I almost got well most
got captured
that day but anyway we sailed a carrier
then sailed to Hong Kong and I bought my
first piece of gold and this was 1973 72
72 and I paid about 50 bucks for it and
today that Krugerrands the South African
Krugerrand is worth 1,500 bucks or 1450
today so that the Krugerrand get bigger
whether the dollar go down to I mean so
ever since that day I just saved gold
and silver and I called gold and silver
guides money and the US dollar fake
money or fiat currency now does
cryptocurrency Bitcoin and that's gonna
cause I'm not an expert at Bitcoin
because I don't have to because I don't
need money
but it's gonna cause havoc because it's
gonna give the the Fed a lot of trouble
because a lot of people are shifting to
crept all right now so everybody can
make crypto I don't want the big deal
about it is you know you can just
produce your own now so they're
competing with the Fed and tea skies so
it's that's what fakes about but the
most important thing and fakers I write
about the tax law which most people
don't know about but I also write about
how I create infinite returns I don't
need money and so a moment and that's
what the financial education I went
through is I can go anywhere and make
money using debt I can use other
people's money so since I don't need
money
I save gold and silver and that's kind
of my mo but I don't touch Doc's boss
put your funds in ETS because that's
amateurs money right only amateurs touch
that stuff and that's why I stay out of
it now if you don't know any better stay
in it you know mmm it's fascinating so
we'll make sure to link to fake as well
as other books from Robert and his cash
flow game to because that's one of my
favorite games that played but well link
all that below so make sure you guys
checked out his books on Amazon I will
link to his website Roberts YouTube
channel as well but Robert thank you so
much for taking the time that you're
doing really appreciate it
nicely said that young guys coming up
yes trying to share the message so thank
you guys so much for watching if you
guys enjoyed this give this a thumbs up
and we'll see you again in the next
video
you
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